Forest City Enterprises: as of July, 75 percent of forecasted arena revenue under contract (but August had gains)
From a press release issued today by Forest City Enterprises, Forest City Reports Fiscal 2012 Second-Quarter and Year-to-Date Results, regarding activity up through 7/31/12:
In Brooklyn, plans are being finalized for the opening events at Barclays Center at Atlantic Yards. Of the more than 200 events planned for arena's first year of operations, approximately 195 were already committed as of the end of the second quarter, and ticket sales to date are meeting the company's expectations. As the opening approaches, interest in suite sales and additional sponsorship opportunities is also accelerating. A formal ribbon-cutting ceremony is being planned for September 21 and Forest City is planning an Investor Day event at the arena for October 22. Approximately 75 percent of forecasted contractually obligated revenues for the arena are currently under contract.
The second-quarter net loss attributable to Forest City Enterprises, Inc. was $43.7 million, compared with net earnings of $9.4 million in the second quarter of 2011. The net loss for the six months ended July 31, 2012, was $21.0 million, compared with net earnings of $55.7 million for the same period in 2011. The net earnings/loss variances for the quarter and six months were primarily related to the 2012 net loss on land held for divestiture activity as a result of the company's January 31, 2012, strategic decision to exit the bulk of its land development business, and by gains on dispositions in 2011 that exceeded gains in 2012.The press release otherwise doesn't mention Atlantic Yards, indicating that plans for the first tower may still be fuzzy.